China slowdown dims Botswana�s minerals prospects

Sluggish: Demand for diamonds in he second half of 2015 is expected to be worse than the 2008 crisis
Sluggish: Demand for diamonds in he second half of 2015 is expected to be worse than the 2008 crisis

International demand for Botswana’s mineral dominated by diamonds, copper and nickel will remain comparatively weak in 2016, given forecast of a further slowdown in China’s economic growth, an international authoritative economic report predicts.

China is the second largest consumer of diamonds while it is the top buyer of   commodities such as copper and coal.

According to the report compiled by the Economist Intelligence Unit (EIU), the impact of the softening in international demand was already evident in the first half of 2015, with Botswana’s earnings from rough diamond exports falling by 16.8 percent year-on-year to $1.7 billion (P17.6 billion).

Editor's Comment
The corrupt must be punished

The findings reveal a disturbing pattern of misconduct and lack of transparency that cannot be ignored.The Tribunal, led by Judge President Justice Kabelo Lebotse, has rightly condemned the Ministry for its eyebrow raising conduct in awarding a P1.8 billion water tender to China Civil Engineering Construction Corporation (Pty) Ltd and Zhong Gan Engineering & Construction Corporation (Pty) Ltd.The award was made despite alleged clear evidence that...

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